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EU countries agree on big defense fund

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EU countries have in principle agreed on the proposals for a 150-billion-euro ($168.3 billion) fund aimed at boosting Europe's defense, known as Security Action for Europe (SAFE), an EU diplomat said on Monday.

Axar.az reports, citing Reuters, the plan, proposed by the European Commission in March, will be financed through joint borrowing and give loans to EU members and certain other countries, such as Ukraine, for projects that bolster their defenses and boost Europe's arms industry.

Date
2025.05.19 / 15:24
Author
Axar.az
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